Fonterra Shareholders' Fund (ASX: FSF) announces an increased forecast Farmgate Milk Price and reports a strong start for FY2020.
- The Co-op increased the mid-point of its forecast Farmgate Milk Price range by 25 cents to $7.30 per kgMS;
- As per the Co-op, the higher price reflects a global dairy market that is tipped slightly in favour of demand.
- Fonterra forecasts New Zealand milk production to increase by 0.5 per cent on last year and anticipates the global annual milk production in the key supply regions of the US and EU to grow below 1 per cent.
- On the demand side, Global Dairy Trade prices surged by approx. 6 per cent since the previous forecast of the company.
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